Advisory groups on market infrastructures

Two advisory groups on market infrastructures have been set up to counsel the Eurosystem on issues related to (i) payments (AMI-Pay) and (ii) securities and collateral (AMI-SeCo). Both groups are composed of market participants and are chaired by the ECB.

AMI-Pay

The Advisory Group on Market Infrastructures for Payments (AMI-Pay) is a forum for the exchange of views on developments in payments. The group assists the Eurosystem in fostering payment innovation and integration across Europe, and offers advice on the provision and modification of Eurosystem payment-related services. It is composed of representatives of banks active in the European Union and of national central banks.

• Action plan to address recommendations following incidents affecting TARGET Services in 2020 (December 2021)
• Value dating SEPA Instant Credit Transfers – non-binding AMI-Pay market best practice

Documents produced by AMI-Pay

AMI-SeCo

The Advisory Group on Market Infrastructures for Securities and Collateral (AMI-SeCo) facilitates an active dialogue with market participants on issues related to the clearing and settlement of securities and to collateral management. It took over the responsibilities of the T2S Advisory Group and the Contact Group on Euro Securities Infrastructures (COGESI). AMI-SeCo brings together representatives of banks active in the European Union in their role as T2S users, central securities depositories (CSDs), central counterparties (CCPs) and national central banks.

• AMI-SeCo letter to EC on response to the consultation on the integration of EU capital markets – June 2025
• AMI-SeCo letter to ESMA on the potential shortening of the standard settlement cycle – Dec 2023
  
• AMI-SeCo survey on remaining barriers to securities post-trade integration in Europe
  
• AMI-SeCo views on EC proposal for faster WHT procedures – cover letter
  
• AMI SeCo views on EC proposal for faster WHT procedures - Annex
  
• AMI-SeCo core T2S Settlement and wider post-trade harmonisation activities
• 15th T2S Harmonisation Progress Report (January 2025)
• AMI-SeCo SCoREBOARD (June 2025)

Documents produced by AMI-SeCo